GM Advisory Group LLC Makes New Investment in Deere & Company $DE

GM Advisory Group LLC purchased a new stake in shares of Deere & Company (NYSE:DE) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 2,064 shares of the industrial products company’s stock, valued at approximately $1,050,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Brighton Jones LLC increased its holdings in shares of Deere & Company by 39.1% during the 4th quarter. Brighton Jones LLC now owns 4,548 shares of the industrial products company’s stock valued at $1,927,000 after acquiring an additional 1,278 shares during the last quarter. Mackenzie Financial Corp lifted its holdings in Deere & Company by 9.6% in the 1st quarter. Mackenzie Financial Corp now owns 31,969 shares of the industrial products company’s stock worth $15,005,000 after purchasing an additional 2,791 shares during the last quarter. Norden Group LLC boosted its position in Deere & Company by 9.3% during the first quarter. Norden Group LLC now owns 866 shares of the industrial products company’s stock worth $406,000 after purchasing an additional 74 shares during the period. Vestcor Inc grew its holdings in Deere & Company by 5.8% during the first quarter. Vestcor Inc now owns 5,012 shares of the industrial products company’s stock valued at $2,352,000 after purchasing an additional 273 shares during the last quarter. Finally, Arkadios Wealth Advisors grew its holdings in Deere & Company by 114.3% during the first quarter. Arkadios Wealth Advisors now owns 7,591 shares of the industrial products company’s stock valued at $3,563,000 after purchasing an additional 4,049 shares during the last quarter. Institutional investors and hedge funds own 68.58% of the company’s stock.

Insider Activity

In other news, CEO John C. May II sold 11,106 shares of the firm’s stock in a transaction dated Tuesday, November 25th. The shares were sold at an average price of $500.08, for a total transaction of $5,553,888.48. Following the completion of the transaction, the chief executive officer directly owned 112,453 shares of the company’s stock, valued at approximately $56,235,496.24. This trade represents a 8.99% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.29% of the company’s stock.

Deere & Company Price Performance

Shares of DE stock opened at $469.95 on Friday. Deere & Company has a 12 month low of $403.01 and a 12 month high of $533.78. The company has a market capitalization of $127.04 billion, a P/E ratio of 24.57, a P/E/G ratio of 3.05 and a beta of 1.04. The stock has a 50 day moving average of $467.18 and a two-hundred day moving average of $490.79. The company has a current ratio of 2.19, a quick ratio of 1.98 and a debt-to-equity ratio of 1.76.

Deere & Company (NYSE:DE) last issued its earnings results on Wednesday, November 26th. The industrial products company reported $3.93 EPS for the quarter, missing analysts’ consensus estimates of $3.96 by ($0.03). The firm had revenue of $12.39 billion during the quarter, compared to analyst estimates of $9.77 billion. Deere & Company had a net margin of 11.72% and a return on equity of 21.97%. The business’s revenue for the quarter was up 14.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $4.55 earnings per share. As a group, equities analysts expect that Deere & Company will post 19.32 EPS for the current year.

Wall Street Analyst Weigh In

DE has been the subject of a number of analyst reports. DA Davidson reduced their price objective on shares of Deere & Company from $595.00 to $580.00 and set a “buy” rating for the company in a research note on Monday, August 18th. Truist Financial lifted their target price on shares of Deere & Company from $602.00 to $609.00 and gave the stock a “buy” rating in a report on Wednesday, October 8th. Weiss Ratings reissued a “hold (c+)” rating on shares of Deere & Company in a research report on Monday. JPMorgan Chase & Co. lowered their price target on Deere & Company from $495.00 to $480.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 14th. Finally, UBS Group reiterated a “buy” rating on shares of Deere & Company in a research note on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $519.85.

Deere & Company Company Profile

Deere & Co engages in the manufacture and distribution of equipment used in agriculture, construction, forestry, and turf care. It operates through the following segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment focuses on the distribution and manufacture of a full line of agriculture and turf equipment and related service parts.